Bankrupt Solyndra lives on as campaign issue

If you thought that Solyndra might possibly fade as a campaign issue, think again.

Republican vice presidential candidate Paul Ryan singled out Solyndra during his Wednesday night speech at the Republican National Convention. He blasted the federal stimulus funding, saying it “went to companies like Solyndra, with their gold-plated connections, subsidized jobs and make-believe markets.”

Solyndra was one of several clean energy companies awarded a loan guarantee from the Department of Energy via the stimulus funding.  Solyndra filed for bankruptcy on August 31, 2011, and it’s implosion is high-profile because President Barack Obama visited the company’s Fremont headquarters.

Ryan did not mention the fact that leading solar manufacturers across the world are struggling amid an oversupply of solar panels. A shakeout of solar manufacturers is underway.

An exhaustive probe by House Republicans found no evidence that Solyndra got its loan because of direct lobbying  by Obama donors. A criminal investigation of the company by the Department of Justice is still underway.


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